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20 September, 22:38

1. Calculate the interest on a five-year loan of $13,950 at a 5.8% rate of interest.

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Answers (2)
  1. 21 September, 01:03
    0
    Well if its compounded annually

    End Balance$18,492.79

    Total Principal$13,950.00

    Total Interest $4,542.79
  2. 21 September, 02:12
    0
    I=prt

    I=13,950*0.058*5

    I==4,045.5
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